CPPIB using its shareholder votes to push for more women on corporate boards: CEO
TORONTO — Canada’s largest retirement fund manager is pushing to have more women on corporate boards because diversity makes for better business decisions, CPPIB chief executive Mark Machin said Friday.
“This is a high priority for us,” Machin said in an interview after Canada Pension Plan Investment Board released its second-quarter financial report.
“We think that diversity leads to better decision-making and I think there’s a growing body of academic and practical evidence that leads to that (conclusion).”
As a result, CPPIB — which manages more than $325 billion for the Canada Pension Plan — voted 34 times this year against specific directors who chaired board’s nomination committees that failed to include women as candidates.